The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1887-12-27
TIE CITY FINANCES,
An Important Meeting OF tho Council Com
mIttee List Evening,

an Important MeetlhE OF Inc Oouncl1 Cpm.
mittee Inst Evening.
The Council Committee on Finance
held IN important maeting last evening
in the office OF Clerk Bowers at the Pub.
lie Building. The meeting was called for
the special purpose oil receiving and e1-
sminiDg the reports OF the commissioners
oissversl of the city q various loans. These
were put in shape to be reported to Coun-
ell a. its regular gemi-Monthly meeting to
be held tonight, mud other business tran.
Hacted, which punched together will make
q very interesting report for to.night's
meeting.
The first report couaidered was that OF
Col, N. wilkinson, representing the Com.
missionssa OF tho Compromise Lean, the
bonds OF which bear rs date OF issue, No.
vember q, 1850. They were iaeusd to a
total amount OF 100000 to take up bonds
thst had been isaued before then to the
Marietta & Cincinnati, Cleveland & Pitts
hurghs and Hempield Railroad Companies.
These original bonds were Issued as'six
per cents; the compromise bonds were
put out at three per cent.
Thene old bombs have became scattered
all over the face OF the globe 30 far rs any.
thing 10 knoTn of them; one block OF
twenty is known to exist in Europe. The
Issue Was originslly to be taken up at a
certain rate provided in the ordinance
authorizing The making OF tho Loan, un.
der which they were to be correspond.
inely increased il the old bonds were re-.
deemed below par, over what the rate
would be II their iaco value were paid.
There are now Eeyenty-three OF the ST 900
bonds Of tho old Compromise loan out
standing. The city is ahead at this time
OF the per centsgs required for redemp-
ton, and at a face value she ia little be.
hind at the discount rate.
Col. Wilkinson'a report covered the
period from November 10, 1854, to Sep
TENDER l, 1887. IN that time his receipts
were $l5,055 25, and OF this amount be
diBbursed $l5,105 q, leaving a balance OF
$l59 9S in his hands. In that period he
managed to buy up some bonds OF til.
loan at the following figures: One at
SS0l rs; ono at $Sl5; one at SS0l; three at
$3.50; two ut $685.; and ono at $40, and he
paid 6Sl coupons calling for SIS each.
His report waa received, the bonds and
coupons cancelled, the accompanying billa
and commission account audited and S75
voted to the Colonel for clerical work in
connection with tbs loan. 49,
He reported further that 81, 200 would
have TO be provided in New YORK January
9 to pay iHterrat falling due on these loans,
This matter CLERK Bowers said he would
DO in position 10 attend to.
The. Commissioners OF tho 1890 Loan Of
1877 handed in twelve bonds OF $500 each
that had been cancelled, together with a
bundle OF paid coupons.
The Commissioners OF the Loans OF 1881
cnd 1885 alao made their reports, which
were accompanied by cancelled coupons.
all oil these reports were found to be
correct and the accounts in satisfactory
shape. AZ 49, :
Solicitor Caldwell was instructed to
have drafted for to.night's Council meet.
Ing the usual appropriation ordinance, Up.
propristing quarter OF the amount o!
last years total appropriations made tc
| the various departments, to them for use
the first three months OF the coming year
in other words; leach department gets !
quarter OF Ito appropriation OF last yea,
appropriated to It now to carry it owe.
until the time tao Finance Committee
shall report the annual appropriation or.
dinancc, which mus. be done within the
next three month";. The committee In do.
ing this will have O buoy. time OF it. An
adjournment wss taken last night till to,
morrow night, when it will meet as the
City Collectors office to settle with that
official, g s. + as {>g -, No